MI HB4515

Authorizes the Michigan Economic Growth Authority to enter into agreements providing tax credits for manufacturing plug-in traction battery packs in Michigan for tax years 2010-2014.

Establishes tiered credit amounts based on battery capacity: $500 for 4 kilowatt hours plus $125 per additional kilowatt hour (maximum $2,000 per pack) for 2010-2011, declining to $375 base plus $93.75 per additional kilowatt hour for subsequent years.

Provides credits up to 75% of qualified vehicle engineering expenses for battery integration and prototyping (capped at $15 million annually and $90 million total) and up to 75% of advanced battery engineering expenses (capped at $30 million total).

Authorizes credits up to 50% of capital investment expenses for constructing integrated cell manufacturing facilities that create at least 300 jobs, with maximum $25 million credit per year for up to 4 years across no more than 3 agreements.

Allows unused or excess credits to be refunded or carried forward for 10 years, and requires taxpayers to obtain certificates from the Michigan Economic Growth Authority before claiming credits.